The definitive guide to poker tournament strategy
This blog is where I will discuss the inner workings behind poker tournament strategy.
This has been broken down into sections, and I've created an index below for your convenience.
This guide is a complete guide to tournament strategy, as well as push-fold charts, that you can refer to as you go along in your poker journey.
It's a good idea to bookmark this page and return to it later when you have had the time to implement some strategy tips. As you might know, I love conceptual-based learning with concrete items. This is a unique approach that emphasizes teaching concepts. Then, you will be able to practice the lessons during your next session.
This is to emphasize that the information here is only a guide. It's up to you to take action and make it happen at the table. Be flexible and go at your own pace. This is a marathon, not sprint.
Overview:
1. The Success Rate of Tournaments
2. Variance in Tournament Poker
3. Tournament Poker:
4. Basic Poker Tournament Strategy
5. Intermediate Poker Tournament Strategy
6. Advanced Poker Tournament Strategy
7. Expert Poker Tournament Strategy
The Success Rate of Poker Tournaments
Lifetime earnings is the sum of all prize money won by a player. This is how tournament poker success is measured. This number is misleading as it does not take into account buy-ins or whether players are actually profitable.
One example is that players may claim they have earned $1,000,000 in lifetime earnings, but they might have played 200 tournaments with a $10,000 buyin, totaling $2,000,000 and they are still losing.
However, a player who earns just $100,000 per year from 200 tournaments with $100 buy ins (totalling $20,000) is considered to be extremely profitable.
Unfortunately, it is not the case that the latter gets the most attention. Because their earnings are higher, high rollers are the best players in tournament poker.
Although I boast that I have earned over $1,000,000 in tournament earnings, I know that it's not all profit. I'm likely to have $300,000 worth of tournament buy-ins. This means that my total earnings are just $1,200,000. There are many players who earn high tournament earnings. But what is really important is the ROI (return on investment). Too often, tournament results are dominated by this metric.
There are more precise ways to measure success at tournament poker. These include using a player’s cumulative final table and won titles.
Final tables and titles can be misleading (incredibly benefiting those who play high-rollers, whose average field size of 50 is 500 or 5,000), but it's a better metric for measuring success in tournament poker.
A system that rewards ROI is the best metric to measure tournament success, as it focuses on profitability. The ROI system would include cashes and buy-ins, but currently there's no such system.
The Global Poker Index, which is the leading authority in ranking tournament players worldwide, does an excellent job indexing tournaments results. It also considers field size, prize pools, and other metrics to provide a more accurate picture.
Variance in Tournament Poker
The variance in tournament poker is amazing. You should consider tournaments as a lottery with very small edges. While you might know the numbers, you still play the lottery.
Practically, this means that you can win every major tournament you enter, even if your best player in the world.
In my video below, I discuss the variance in tournament-poker. But, let me share one thought experiment.
With 500 players in a World Series of Poker or World Poker Tour event the odds of winning are 1/500 or 0.2%.
Even if you are the best player in the game, your chances of winning the tournament are very low.
Because of the laws and standard deviation, players can play 100 events and not win.
If you only play one tournament per week, you can go twenty years without winning any.
Because of this, top-ranked poker players often supplement tournaments by cash games. Cash poker has a lower variance and more skill-edge than other forms of poker, which allows players to make more street decisions.
Please see the video below for a detailed overview of profit in tournament poker, the variances that you can expect, as well as practical tips and tricks to help you manage your bankroll. A Loose Aggressive Hold Em Poker Tournament Strategy That Works!
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